04-09-2008, 10:35 PM
Hi Everybody,
As far as the topic is concerned, I will not support it fully because people have different objectives and frame of minds. The scope of accountancy professionals is expanding day by day. Now everyone does not care about going into practice. However those who want to practice, they have to be a member of ICAP which is very fair. On the other hand those who want to join consultancy either with audit firms or independently may not prefer to be a member of ICAP.
Already ACCA has taken away big chunk of accountancy students from ICAP but it does not effect it because most of ACCA students are working in Audit firms even on lower stipend as compare to CA students by their own choice so in future they can capitalise it for ICAP's membership.
Similiarly, there is a requirement of ICAEW of work experience/Internship, again CA firms are the first available option. So as far as membership is concerned, yes ICAP will suffer but as far as business of CA firms is concerned it will be booming because those ACCA students who are not working in CA firms, will also take interest in working for them so they can meet the criteria of ICAEW for membership after qualifying.
ICAP will be meeting its objectives directly/indirectly.However in industry, the members of ICAP may face tough competition on remuneration terms because ACCA and ICAEW members (I am talking about a person who is a member of both of these bodies) who have done their training in CA firms will be at par in Finance, Audit, Merger and Acquisition etc with the exception of specialised nature of job of Tax or Corporate Secretary.
In my personal opinion ACCA will be the one who will be affected most in long run, unless its members/students take decision to join either ICAP or ICAEW.
You know who will benefit most out of it in monetary terms?
Education Providers
How?
By offering routes like 'Become ACA(Pak)+ACA(UK)+ACCA in just .... years for ....... amount'.
So be careful and don't get carried away.
Many Thanks
Kind Regards
As far as the topic is concerned, I will not support it fully because people have different objectives and frame of minds. The scope of accountancy professionals is expanding day by day. Now everyone does not care about going into practice. However those who want to practice, they have to be a member of ICAP which is very fair. On the other hand those who want to join consultancy either with audit firms or independently may not prefer to be a member of ICAP.
Already ACCA has taken away big chunk of accountancy students from ICAP but it does not effect it because most of ACCA students are working in Audit firms even on lower stipend as compare to CA students by their own choice so in future they can capitalise it for ICAP's membership.
Similiarly, there is a requirement of ICAEW of work experience/Internship, again CA firms are the first available option. So as far as membership is concerned, yes ICAP will suffer but as far as business of CA firms is concerned it will be booming because those ACCA students who are not working in CA firms, will also take interest in working for them so they can meet the criteria of ICAEW for membership after qualifying.
ICAP will be meeting its objectives directly/indirectly.However in industry, the members of ICAP may face tough competition on remuneration terms because ACCA and ICAEW members (I am talking about a person who is a member of both of these bodies) who have done their training in CA firms will be at par in Finance, Audit, Merger and Acquisition etc with the exception of specialised nature of job of Tax or Corporate Secretary.
In my personal opinion ACCA will be the one who will be affected most in long run, unless its members/students take decision to join either ICAP or ICAEW.
You know who will benefit most out of it in monetary terms?
Education Providers
How?
By offering routes like 'Become ACA(Pak)+ACA(UK)+ACCA in just .... years for ....... amount'.
So be careful and don't get carried away.
Many Thanks
Kind Regards
